Abraaj planning IPO of Libstar

Abraaj Group is reportedly planning an IPO of South African food and personal care maker Libstar, which may value the firm at as much as USD 1 bn, according to Bloomberg. Abraaj has reportedly tapped JPMorgan Chase & Co. and Standard Bank to manage the IPO which it hopes would raise USD 300 mn. There is also talk of plans to list shares of Libstar in the London Stock Exchange, though no confirmation has come down from Abraaj on the IPO. The emerging markets private equity firm had acquired Libstar three years ago.